Dogecoin (DOGE) is trading around $0.0800, a critical support level, after a correction from September’s high near $0.1000. Its 365-day MVRV ratio has fallen to 0.74, indicating that holders are sitting on average losses of roughly 26%, which can create accumulation opportunities. Meanwhile, derivatives trading volume rose 35.81% to $917.30 million and open interest increased 2.86% to $1.22 billion, with some traders maintaining a predominantly bullish positioning. However, persistent spot selling, overheated trading activity and a still-negative MACD limit the prospects of an immediate rebound. A decisive break below $0.0800 would invalidate the near-term recovery scenario, while holding this support could pave the way toward $0.08683.
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